Crude falls $1.09

Posted on: April 05, 2016

WTI is falling faster than Shane McMahon did from the top of Hell in the Cell at Wrestlemania, with the May future settling below $36 at $35.70. Participants continue to lose faith that anything of substance will come from the meeting between OPEC and non-OPEC producers later this month. Russian production hit a record in March, which is just another example of the idea that everyone is in favor of a production cut as long as they don't have to cut.

With TransCanada temporarily closing its Keystone pipeline until Friday at the earliest we could see the impact on WCS.